Bitcoin Sees Coinbase Premium Recovery, But Strength Still Below June Peak – What It Means For BTC?

Key Points

1. Bitcoin (BTC) broke above $110,000, reaching a new all-time high of $111,999, supported by a rebound in the Coinbase Premium Gap, signaling renewed spot demand from US investors.

2. The Coinbase Premium Gap, measuring the price difference between Coinbase and Binance, surged from 6.9 to 48.8, indicating significant spot buying activity.

3. Analysts suggest Bitcoin could benefit from fresh liquidity, as indicated by the Stablecoin Supply Ratio (SSR) and Moving Average Convergence Divergence (MACD), with SSR reaching its highest level in two years.

4. Technical analysis suggests Bitcoin may target $144,000, but macroeconomic risks, such as potential Federal Reserve actions, could impact the market.

5. Bitcoin's current price is $111,680, up 2.1% in the past 24 hours, with favorable conditions for further gains if volume expands and SSR cools.